Early U.S. coins lead Long Beach auction

An impressive double-struck 1799 Draped Bust dollar graded MS-65 shows evidence of the undertype on both sides and is set to highlight Heritage’s Sept. 17 to 20 Long Beach auction. Images courtesy Heritage Auctions.

Undertype details of the first strike are visible on this double-struck 799 Draped Bust dollar. The coin is set to highlight Heritage’s Sept. 17 to 20 Long Beach auction. Image courtesy of Heritage Auctions.

One of just 281 examples known of the entire type, this 1797 Draped Bust, Small Eagle half dollar grading Fine 15 with CAC sticker brought $51,750 at its last trip to the auction block in 2009.

Eighteenth century rarities from the early Philadelphia Mint will
highlight Heritage’s
auctions at the Long Beach Expo, Sept. 17 to 20.

Heritage notes, “Not only is this splendid coin struck from the
latest state of the obverse die known, it is double struck over a
previous impression of the same variety, with the evidence of the
initial striking clearly discernible on both sides of the coin.” The
description explains that this dollar, which was struck on a screw
press, encountered a problem with the original strike. The coiners
then struck the coin again, and the second strike was bold, although
details of the understrike are visible on both sides.

This intriguing dollar has been off the market for a generation, as
it last sold in 1976 when offered in Pine Tree Auction Galleries
Inc.’s sale of the John Carter Brown Library Collection. The finest
known 1799 dollar — of a different variety and graded MS-67 by NGC —
sold for $822,500 at Heritage’s November 2013 auction of selections
from the Eric Newman collection.

The description for the coin being offered adds, “The true rarity of
Gem Uncirculated Heraldic Eagle dollars is often underestimated by
even experienced collectors and series specialists, a function of the
larger mintages and the longer duration of the series.” Heritage
President Greg Rohan said in a press release, “The survival rate of
Gem or finer Heraldic Eagle dollars is significantly less than that of
either the Flowing Hair or Small Eagle types in terms of Gem or finer coins.”

A coveted type coin

Another Draped Bust rarity in the auction is a 1797 Draped Bust, Small Eagle half dollar graded
Fine 15 by Professional Coin Grading Service with a green Certified
Acceptance Corp. sticker indicating quality within the grade.

It is classified in Amato 422 in researcher Jon Amato’s reference
book, which records all of the 281 known examples of the 1796 and 1797
examples of this short-lived type.

With this low of a surviving population for a distinct type,
Heritage observes, “It is little wonder that the 1796-1797 half
consistently reveals a higher value than any other type coin (with the
possible exception of the one-year types 1796 No Stars and 1808
quarter eagles) in most levels of preservation.”

This example is textbook for the grade, with Heritage suggesting
that it has attributes of a Very Fine grade when considering the
remaining detail on Liberty’s hair, face and drapery.

Also unusual is the long pedigree that traces back to Thomas Elder’s
September 1910 sale of the Peter Moughey Collection and then moves to
six different sales in the past decade, ending with Heritage’s July
2009 Los Angeles Signature sale where it sold for $51,750.

Other highlights of Heritage’s Long Beach offering include a pattern
1792 copper disme graded Extremely Fine 40 by PCGS. It was last
offered as part of Heritage’s offering of the Donald G. Partrick
Collection at this past January’s Florida United Numismatists auction
where it brought $211,500 and has an ownership history tracing back to
1914 when it was exhibited at the American Numismatic Society’s
Exhibition of United States and Colonial Coins.

The Commission of Fine Artsâ recommendation for the Proof 2014 American Eagle platinum coin, left, brought outrage and derision at the Citizens Coinage Advisory Committee meeting. The CCAC recommended the design to the right.

The Commission of Fine Artsâ recommendation for the Proof 2014 American Eagle platinum coin, left, brought outrage and derision at the Citizens Coinage Advisory Committee meeting. The CCAC recommended the design to the right.

The Commission of Fine Artsâ recommendation for the Proof 2014 American Eagle platinum coin, left, brought outrage and derision at the Citizens Coinage Advisory Committee meeting. The CCAC recommended the design to the right.

The Commission of Fine Artsâ recommendation for the Proof 2014 American Eagle platinum coin, left, brought outrage and derision at the Citizens Coinage Advisory Committee meeting. The CCAC recommended the design to the right.

The Commission of Fine Artsâ recommendation for the Proof 2014 American Eagle platinum coin, left, brought outrage and derision at the Citizens Coinage Advisory Committee meeting. The CCAC recommended the design to the right.